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Oil falls as International Energy Agency forecasts supply glut next year after U.S.-Iran deal
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- International benchmark Brent crude futures for August dropped 1.13% to $78.65 a barrel.
- Clouding the situation, Trump also told reporters that he could resume attacks on Iran if Tehran failed to honor its commitments, according to Reuters.
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Oil prices declined Thursday after President Donald Trump reportedly signed a deal with his Iranian counterpart Masoud Pezeshkian to end the war in the Middle East, while the International Energy Agency flagged a supply glut next year.
International benchmark Brent crude futures for August dropped 1.13% to $78.65 a barrel. U.S. West Texas Intermediate futures for July fell 1.26% to $75.82 per barrel.
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